Chinese auto parts manufacturer CITIC to set up 3rd plant in Morocco

RABAT, Feb. 16 (Xinhua) -- The Chinese auto parts manufacturer CITIC Dicastal on Wednesday kicked off the launching ceremony of its third plant in Morocco.

With an investment of 200 million U.S. dollars, the new factory will create 760 jobs for the local community.

The ceremony was held in the Atlantic Free Zone in Kenitra, a port city 40 km north of the capital Rabat, with the presence of the Moroccan Minister of Industry and Trade Ryad Mezzour and Chinese Ambassador to Morocco Li Changlin.

The Chinese ambassador said that the project is China's largest investment in Morocco, marking a major achievement of the Belt and Road cooperation.

Mezzour praised it as a model of China-Morocco economic and trade cooperation, which will produce economic and social benefits for both sides.

The project will be carried out in two phases, with an annual output of 5 million castings in the first phase.